Korres Group reported consolidated earnings results for the year 2014. For the period, the company reported that sales increased by 29% at EUR 50.6 million from EUR 39.2 million in 2013, as a result of its exceptional positive trend in all strategic markets. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), excluding the extraordinary restructuring cost impact, increased by 16% at EUR 8.1 million in 2014 from EUR 7.0 million in 2013, as a result of sales growth and overall Group consistent positive performance.

Earnings before interest, taxes, depreciation and amortization (EBITDA), excluding the restructuring cost impact increased by 27% reaching EUR 5.1 million from EUR 4.0 million in 2013. Strong operating cash flow at EUR 8.4 million in 2014 from EUR 7.7 million reflecting the results of operating profitability improvement and the management focus for working capital rationalization. At the same time.

the Group realized further net debt reduction. Net loss after tax and minority, significantly improved, at EUR 1.9 million from EUR 4.5 million in 2013. Excluding the above extraordinary restructuring cost.

net results after tax and minority would have been positive.